JLL Capital Markets has completed the $55 million sale of a residential development site at 441–467 Prospect Ave. in the Park Slope neighborhood of Brooklyn. The property was sold by Arrow Linen Supply Company, which was represented in the transaction by a JLL Capital Markets team of Mike Mazzara, Ethan Stanton and Brendan Maddigan. The JLL team negotiated directly with the buyer, Goose Property Management.
The transaction involves two contiguous lots on the north side of Prospect Avenue, situated between Prospect Park West and Eighth Avenue. The site is located a short distance from Prospect Park and the 15th Street–Prospect Park subway station, positioning the future project near one of Brooklyn’s primary open-space amenities and a key transit node. According to the parties, the development site offers 271,000 square feet of potential zoning floor area that can be used for residential construction.
The property served Arrow Linen Supply Company, which has had a presence in Brooklyn since 1947. Following the unexpected passing of the company’s CEO and majority shareholder, the remaining shareholders chose not to continue participating in the site’s future development. That decision ultimately led to the disposition of the land to Goose Property Management, with JLL Capital Markets arranging and structuring the sale process on their behalf.
A spokesperson for Arrow Linen noted that the company has longstanding ties to Brooklyn and emphasized that the shareholders elected to step away from the development role after the leadership transition. The spokesperson also expressed confidence that the new ownership will advance a residential project that can increase housing supply in the borough, including homes that are expected to be affordable.
The sale of the 441–467 Prospect Ave. site highlights ongoing investor and developer interest in large-scale residential opportunities in Park Slope and the broader Brooklyn market. With substantial potential zoning floor area and immediate access to neighborhood amenities and public transit, the parcel represents a significant platform for new multifamily development. While specific development plans, timelines and project details were not disclosed, the transaction marks a transition of the site from a long-established local commercial user to a residential-focused buyer poised to pursue new housing on the location.
